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REGISTERED NUMBER: 12505653 (England and Wales)















Before We Was Limited

Financial Statements

for the Year Ended 31 May 2023






Before We Was Limited (Registered number: 12505653)

Contents of the Financial Statements
for the year ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Before We Was Limited

Company Information
for the year ended 31 May 2023







Directors: W G P Jones
B Timlett





Registered office: 25 D'arblay Street
London
W1F 8EJ





Registered number: 12505653 (England and Wales)






Before We Was Limited (Registered number: 12505653)

Balance Sheet
31 May 2023

2023 2022
Notes £ £
Current assets
Debtors 4 2 12,118
Cash at bank and in hand 3,076 19,411
Total assets less current liabilities 3,078 31,529

Capital and reserves
Called up share capital 5 2 2
Retained earnings 6 3,076 31,527
Shareholders' funds 3,078 31,529

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the Company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the Company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the Company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2024 and were signed on its behalf by:





B Timlett - Director


Before We Was Limited (Registered number: 12505653)

Notes to the Financial Statements
for the year ended 31 May 2023


1. Statutory information

Before We Was Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared in Pound Sterling (£).

Amounts in the financial statements have been rounded to the nearest £.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the Company's accounting policy, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on the historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate are revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have significant risk of causing material adjustment to the carrying amount of assets and liabilities are as follows:

Accruals
Accruals are estimated by reference to purchase orders raised at the period end and estimates to complete.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents amounts receivable for services provided in the year and is stated net of VAT, on the accrual basis of accounting.

Financial instruments
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Before We Was Limited (Registered number: 12505653)

Notes to the Financial Statements - continued
for the year ended 31 May 2023


2. Accounting policies - continued

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Equity instruments
Equity instruments issued by the Company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Going concern
The financial statements have been prepared on a going concern basis.

The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. The directors have tested the cash flow analysis to take into account the impact on the business of possible scenarios brought on by the current economic conditions, alongside the measures that he can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that the Company can continue to adopt the going concern basis in preparing the annual report and accounts.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors - 11,916
Directors' current accounts 2 2
VAT - 200
2 12,118

5. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary £1 2 2

Before We Was Limited (Registered number: 12505653)

Notes to the Financial Statements - continued
for the year ended 31 May 2023


6. Reserves
Retained
earnings
£

At 1 June 2022 31,527
Deficit for the year (28,451 )
At 31 May 2023 3,076

7. Ultimate controlling party

There is no ultimate controlling party. The directors have joint control over the Company.